Lean hog futures settled Thursday with contracts 50 to 75 cents higher on the session and reaching new contract highs. Open interest rose 4,217 contracts on Thursday. USDA’s national base hog price was reported at $83.09 on Thursday afternoon, down $2.04 from the day prior. The CME Lean Hog Index was up another 37 cents on Jan 20 at $82.40.
USDA’s pork carcass cutout value from the Thursday PM report was 64 cents higher at $94.62 per cwt. The rib primal was the only reported lower. USDA estimated federally inspected hog slaughter for Thursday at 490,000 head, taking the weekly total to 1.886 million head after a revision 8,000 head lower to Wednesday. That is 87,000 head below last week but 82,281 head above the same week last year.
Feb 26 Hogs closed at $88.475, up $0.625,
Apr 26 Hogs closed at $96.350, up $0.750
May 26 Hogs closed at $99.775, up $0.500,
